Deepak Nitrite logo

Deepak Nitrite

DEEPAKNTR NSE

Key Fundamentals

SmallcapSpecialty ChemicalsChemicals
Market Cap
₹20,520 Cr
Volatility
Moderate
P/E Ratio
25.99
EBITDA
₹1,041 Cr
Return on Equity
9.38%
Debt to Equity
0.28
Book Value
₹427.94
EPS
₹59.06
52W High
₹1,897.9
52W Low
₹1,280

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

2
  • Company has a low return on equity of 12.8% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
-5.01% lower than 3Y
Net Income Growth
-21.04% lower than 3Y
Cash Flow Change
-13.73% higher than 3Y
ROE
-27.06% lower than 3Y
ROCE
-24.81% higher than 3Y
EBITDA Margin (Avg.)
-6.83% higher than 3Y

AI Analysis — Bull vs Bear

5d ago
AI opinion · based on fundamentals
Risk medium

Deepak Nitrite has a market cap of about ₹21,652 Cr and trades at a P/E of 27.9x and a P/B of 3.74x, with a dividend yield of 0.47%. Its long-term record is strong: 10-year sales and profit CAGRs are 19% and 24%, and the stock has compounded 29% a year over 10 years. The last three years look much weaker, with flat sales (0% CAGR), profit down at a 13% CAGR, ROE falling to 10% last year and negative stock returns over 1, 3 and 5 years.

Bull Case 7
  • The 10-year record shows sustained compounding: sales grew at a 19% CAGR and profit at a 24% CAGR, which points to the company's ability to scale its chemical intermediates and phenolics businesses over a full cycle.
  • TTM profit growth of 31% is well above the 3-year profit CAGR of -13%, which suggests earnings may be recovering from the recent downcycle.
  • TTM sales growth of 7% compares with a 0% 3-year sales CAGR, suggesting the top line is growing again after a flat period.
  • ROE averaged 20% over 10 years and 18% over 5 years, which shows the business has earned high returns on capital through past cycles, above the recent 10% level.
  • The stock has compounded 29% a year over 10 years, so long-term shareholders have been rewarded even after the recent drawdown.
  • After negative stock returns of -14% (1Y), -10% (3Y CAGR) and -8% (5Y CAGR), the valuation at a P/E of 27.9x has pulled back from the premium levels the stock held during its peak-growth phase.
  • The 0.47% dividend yield means the company pays shareholders something while holding back most earnings for capacity expansion.
Bear Case 8
  • Profit has fallen at a 13% CAGR over 3 years and a 7% CAGR over 5 years, a sustained earnings decline despite the long-term growth record.
  • ROE fell to 10% last year and averaged a low 12.8% over 3 years, well below the 20% 10-year average. Returns on the expanded capital base have weakened.
  • The company may be capitalising interest costs. If so, reported profit can look better than it is and true financing costs may only show up once capex projects are commissioned.
  • Sales have been flat over 3 years (0% CAGR), which points to pricing pressure and weak volumes in commodity-linked chemicals such as phenol and acetone.
  • At a P/B of 3.74x with ROE of 10% last year, investors are paying a premium to book value that the current return profile does not justify on its own. That assumes ROE recovers.
  • A P/E of 27.9x prices in a continued earnings recovery. The 31% TTM profit growth comes off a depressed base and may not last if chemical spreads stay under pressure.
  • The stock has underperformed over every recent horizon: -14% over 1 year, a -10% 3-year CAGR and a -8% 5-year CAGR, reflecting sustained weak sentiment toward the name.
  • The 0.47% dividend yield offers little income support if earnings recovery or capex returns are delayed.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

5h ago
Positives 1
  • ₹300 crore Dahej plant commissioned Sep 29

    Deepak Chem Tech, a wholly owned subsidiary of Deepak Nitrite, commissioned a Chlorination and Specialty chemical plant at Dahej. The capex was ₹300 crore, which adds new capacity and moves the company further into specialty chemicals.

Neutral 1
  • ₹80 crore intra-group OCRPS infusion Sep 29

    Deepak Phenolics, a subsidiary, bought ₹80 crore of 9% Optionally Convertible Redeemable Preference Shares in Deepak Chem Tech to strengthen its capital base. Because this is a transfer between group companies, consolidated finances are largely unaffected.

TL;DR: Deepak Nitrite is carrying out its capex plan: the ₹300 crore Dahej plant is now running, and the group is backing it with an ₹80 crore internal funding move. The news contains no direct headwinds. Still, the risks to watch are how fast the new plant ramps up, how much capacity it uses, and specialty chemical prices across the sector, none of which these articles cover. The trend looks good on execution, and future earnings will depend on how quickly the Dahej plant starts adding meaningful revenue and margin.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,768
1,778
2,009
2,126
2,167
2,032
1,903
2,180
1,890
1,902
1,975
2,120
2,578
Expenses
1,559
1,476
1,705
1,825
1,858
1,734
1,735
1,863
1,700
1,698
1,764
1,744
2,037
Operating Profit
210
302
305
301
309
298
169
317
190
204
211
376
540
OPM %
12%
17%
15%
14%
14%
15%
9%
15%
10%
11%
11%
18%
21%
Other Income
32
17
14
99
19
21
21
23
25
20
-4
7
14
Interest
2
3
3
4
6
6
6
9
8
8
11
19
23
Depreciation
38
39
42
46
47
48
48
51
51
53
58
63
64
PBT
202
277
274
349
275
264
135
279
155
163
138
301
468
Tax %
26%
26%
26%
27%
26%
26%
27%
27%
27%
27%
28%
27%
26%
Net Profit
150
205
202
254
203
194
98
202
112
119
100
220
345
EPS in Rs
10.99
15.04
14.81
18.61
14.85
14.24
7.19
14.84
8.23
8.7
7.32
16.11
25.3
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,327
1,373
1,371
1,651
2,700
4,230
4,360
6,802
7,972
7,682
8,282
7,887
8,575
Expenses
1,187
1,204
1,231
1,447
2,278
3,194
3,108
5,196
6,680
6,555
7,187
6,900
7,243
Operating Profit
140
169
139
204
421
1,035
1,252
1,607
1,292
1,127
1,095
987
1,331
OPM %
11%
12%
10%
12%
16%
24%
29%
24%
16%
15%
13%
13%
16%
Other Income
1
0
80
7
11
29
20
42
46
156
84
44
36
Interest
38
40
37
47
87
118
77
36
27
15
31
49
61
Depreciation
36
40
48
53
78
140
153
178
166
166
195
225
237
PBT
67
89
135
111
268
806
1,042
1,434
1,146
1,102
953
757
1,070
Tax %
21%
29%
28%
29%
35%
24%
26%
26%
26%
26%
27%
27%
—
Net Profit
53
63
96
79
174
611
776
1,067
852
811
697
551
783
EPS in Rs
5.06
5.39
7.37
5.79
12.73
44.8
56.88
78.2
62.47
59.45
51.12
40.36
57.43
Div. Payout %
20%
22%
16%
22%
16%
10%
10%
9%
12%
13%
15%
19%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
21
23
26
27
27
27
27
27
27
27
27
27
Reserves
325
450
689
895
1,044
1,545
2,319
3,311
4,063
4,769
5,361
5,810
Borrowings
545
529
724
987
1,187
1,107
590
315
73
286
1,267
1,638
Other Liabilities
235
295
350
684
677
538
630
779
967
1,012
1,053
1,180
Total Liabilities
1,125
1,296
1,789
2,592
2,935
3,217
3,567
4,432
5,129
6,095
7,708
8,654
Fixed Assets
549
594
586
588
1,716
1,832
1,864
1,963
1,942
2,293
2,457
3,270
CWIP
44
36
349
955
34
172
220
122
301
774
1,649
1,828
Investments
3
87
118
32
2
2
189
439
379
122
511
213
Other Assets
530
580
736
1,018
1,183
1,210
1,293
1,908
2,508
2,907
3,091
3,343
Total Assets
1,125
1,296
1,789
2,592
2,935
3,217
3,567
4,432
5,129
6,095
7,708
8,654
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
108
167
49
183
60
765
1,002
824
650
874
625
539
Investing
-89
-169
-353
-525
-163
-428
-396
-424
-276
-717
-1,489
-669
Financing
-22
4
305
345
96
-338
-599
-386
-359
44
806
193
Net Cash Flow
-3
2
1
4
-6
-1
7
14
15
200
-59
64
Free Cash Flow
18
81
-192
-438
-194
349
788
638
290
110
-494
-658
CFO/OP
87
110
47
103
28
93
99
73
70
101
77
74
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
86
83
96
91
78
53
63
61
60
62
56
70
Inventory Days
47
54
75
118
94
63
64
53
62
54
59
57
Days Payable
48
59
95
176
106
57
72
46
46
38
33
35
Cash Conversion Cycle
85
79
76
32
66
59
56
67
76
77
82
92
Working Capital Days
-3
-28
-49
-29
35
33
57
57
70
70
64
61
ROCE %
—
14%
8%
10%
17%
38%
40%
44%
30%
22%
16%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others2.49%Promot.49.34%FIIs6.25%Public18.16%DIIs23.76%As ofJun 2026

Documents

Frequently Asked Questions about Deepak Nitrite

What does Deepak Nitrite Ltd do?
Incorporated in 1970, Deepak Nitrite Ltd manufactures Basic Intermediates, Fine & Speciality Chemicals, Performance Products, and Phenolics[1]
Where is Deepak Nitrite Ltd (DEEPAKNTR) listed?
Deepak Nitrite Ltd trades as DEEPAKNTR on the NSE and under code 506401 on the BSE.
Which sector does Deepak Nitrite Ltd belong to?
Deepak Nitrite Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the market capitalisation of Deepak Nitrite Ltd?
Deepak Nitrite Ltd has a market capitalisation of ₹20,520 Cr, which places it in the Large Cap band.
What is the PE ratio of Deepak Nitrite Ltd?
Deepak Nitrite Ltd trades at a PE ratio of 25.99, on earnings per share of ₹59.06, against a book value of ₹427.94 per share.
What is the 52-week high and low of Deepak Nitrite Ltd?
Over the last 52 weeks Deepak Nitrite Ltd has traded between ₹1,280 and ₹1,897.9.
Does Deepak Nitrite Ltd pay dividends?
Deepak Nitrite Ltd has a dividend yield of 0.49%.
What is the Return on Equity (ROE) of Deepak Nitrite Ltd?
Deepak Nitrite Ltd reported a return on equity of 9.38%. Its debt-to-equity ratio is 0.28.

Company Information

Incorporated in 1970, Deepak Nitrite Ltd manufactures Basic Intermediates, Fine & Speciality Chemicals, Performance Products, and Phenolics[1]

Website godeepak.com
CEO Mr. Deepak Chimanlal Mehta B.Sc.
Employees 1,757
Listed 2010-09-29
Face Value ₹ 2
Issued Size 13,63,93,041

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